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30 Life Lessons From Chinese Billionaire Jack Ma

30 Life Lessons From Chinese Billionaire Jack Ma

Have you ever felt discouraged when you consider your professional progress or financial state? Chinese billionaire Jack Ma has a few tokens of advice for you.

Ma is a Chinese internet entrepreneur who launched his first big endeavor, and many since, in the face of adversity or criticism. He was named Financial Times’ “2013 Person of the Year,” and is widely held as a symbol of the Chinese entrepreneurial spirit. While some of his insight may constitute a new approach more focused on the bottom line than others, there is no denying that his perspective is one that has proven staggeringly successful.

Ready to incorporate Ma’s approach into your management of professional and financial life? Copy those that resonate most with you on a notecard and post them on your computer, in your wallet, or at another location where you will see them regularly. You’re about to go on a wildly successful ride with Jack Ma.

1. Look far and wide for opportunity.

Ma categorizes those who fail as often being myopic to opportunity. Look across the professional and financial landscape with a broad lens first, considering all possibilities. Then, bend down to dig under every rock and in every nook and cranny for potential opportunities.

2. Treat every opportunity as an open door.

No chance is too small, too menial, or beneath you. When something lies before you, seize it. Grasp it with all of your strength, work this opportunity with all of your heart. Bring everything that you are to bear on this task. Do not treat anything as small if you want large results.

3. Seek understanding.

Work to understand both your current position and the position to which you aspire. What, exactly, are you working for? Why? What will it take to get you to where you want to go?

4. Act quickly.

Sometimes, the race does go to the swift. What most folks miss, however, is that being “swift” means bouncing back from failure, not necessarily running most quickly at all times. Acting swiftly can also mean being the first one out of the blocks when the gun goes off. When an opportunity presents itself, act.

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5. See beyond your circumstances.

No matter what your current condition, how or where you grew up, or what education or training you feel you lack, you can be successful in your chosen endeavor. It is spirit, fortitude, and hardiness that matter more than where you start.

6. Channel your ambition.

It is your job as a visionary to become single-minded in your ambition. Focus on your goal, work toward it, and never let it go.

7. Be courageous.

When Ma launched Alibaba Group, a highly successful group of internet businesses, he did so in the face of cautionary feedback from potential backers. There is a time for boldness, and in pursuit of your chosen ambition is that time.

8. Take chances in your youth.

If you are not rich by the time you are 35, says Ma, then you have wasted the opportunities of youth. Capitalize upon these young years, with their energy and imagination, by giving in to your ambition and the pursuit of it.

9. Unify your team toward a common goal.

You will never succeed in unifying every member of your team behind a single person. Ma estimates that 30% of people will always disagree with you.  Unite them behind an idea, cause, or mission, however, and you can harness the power of the team.

10. Make yourself replaceable.

Part of unifying behind an idea or mission is reducing dependency upon any particular individual, including the founder or lead boss. Cultivate the ideas, skills, and approach that you value in individuals you trust. When you move on, their leadership will ensure the continued success of that mission or idea.

11. Hire those with better technical skills than you possess.

If the boss has better technical skills than the employees, then they hired the wrong people. Workers should always be technical experts. Hire them, empower them, and let them do their jobs. They’re better at it than you are.

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12. Lead with vision, tenacity, and grit.

There are skills that are vital to successful leadership of any company or endeavor — vision, tenacity, and grit. A leader must be a visionary, able to see opportunity where others do not and acknowledge challenges before they come. A leader must be tenacious, be able to “hang in there” when a less determined individual would have long since given up. A leader must have grit, that ability to buckle down and do what is required in order to get the job before them, done.

13. Persevere.

Hard times will come. Challenges may be everywhere even at launch. Keep that founding vision in mind, and cling to it in rough waters as a lighthouse and guide. Your actions will inspire others to do the same.

14. Attitude is more important than capability.

It is your attitude that determines your altitude. Whether in smooth times or rough, successful leaders remain calm, confident in their mission, and focused on their desired outcome.

15. Savvy decision-making is more important than capability.

The most successful leaders are not always the smartest or the most qualified on paper. They do, however, surround themselves with extremely capable experts, turn to them for input, and make clear decisions. It is the decisions you make that will advance you and your endeavor forward one step at a time, not how qualified you are to move from square to square.

16. Money and political power cannot exist together.

Money and political power are mutually exclusive. One is the powder keg, the other, the match. Where both exist, an explosion will occur. If you are interested in both, pursue them consecutively, not concurrently.

17. Resilience is only understood after you have gone through hardship.

An intellectual understanding of resilience means nothing.  The capacity to be resilient means nothing.  It is only after having gone through hardships and having been tested, that an individual can be deemed “resilient.”

18. Your job is to be more diligent, hardworking, and ambitious than others.

There is a simple formula for success, every time. Be diligent. Work hard. Never lose sight of your ambition. Whatever form your endeavor takes, these principles hold true.

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19. Compete with grace.

If you treat your competitors as enemies, you will be seen as an enemy yourself. You will soon be surrounded. Instead, enter professional competition with grace, honoring your competitor and remembering that next time, the tide may turn another way.

20. Take all competitors seriously.

No competitor is a giant unless you make them one in your perspective. Treat all competitors with respect; treat your own business with respect. All have an equal chance of success when the competition begins. The one you overlook may be the one that beats you.

21. Behold yourself a giant.

Every large business started somewhere. Your business started somewhere. All deserve a seat at the table. Behold yourself equal to those you are competing with, and conduct yourself accordingly.

22. Winners do not whine.

While occasional poor spirits are to be expected, with the accompanying utterances of annoyance or dejection, regular whining is a sure sign of failure. All endeavors will bring hardships and challenges. How you deal with them will indicate the success of your business. Winners do not whine.

23. Customers are first; employees, second; shareholders, third.

As a leader, you only have a certain amount of time and energy. Give yours to those who enable your business, first — your customers. Those who make your business run come second — your employees. The shareholders are given attention and resources only after the first two have been satisfied. Many business owners spend all day, every day, catering to the shareholders. This resource allocation is not sustainable.

24. Forget about the money.

You did not launch your business or project solely for the money. You went down this path to build a particular lifestyle, or to meet a need of your soul and mind. If you focus on the money, you will make different decisions than if you focus on the journey. Walk the path you started down diligently, with ambition; the money will come.

25. Find the right people, not necessarily the best or most skilled people.

The most skilled people on paper are not necessarily the ones who fit best into your culture, or work best with you. The most efficient people on paper may not be those you trust most. Sparkling resumes do not mean that an individual can grow and evolve with your company. Find the right people, now. They are the best people. Their skills can be developed, as will yours.

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26. “Free” is a very expensive word.

When you give something away for “free,” you give away profits, as well as resources of manpower spent during development, implementation, and follow-up, and possibly intellectual property in the form of a great idea. Think carefully before you run such a promotion. Nothing is truly free.

27. A smart man uses his brain to “speak”…

The words that come from another’s mouth are not meaningful. Engage your mind. Utilize your intellect. Make decisions from an informed, grounded perspective.

28. … a wise man uses his heart.

Likewise, trust your intuition and your knowing. Making decisions from a place of faith can serve you exceptionally well, particularly with regard to personnel and when identifying strategic objectives.

29. We are born to enjoy life, not to spend it working.

The point of life is not to simply work, work, work, grinding away our bodies and our minds until we die. The focus should be on enjoyment, not only of your work but by creating time to play, relax, and enjoy those around you. If you work your life away, you will regret it — this is guaranteed.

30. Giving up is the greatest failure.

You will never know what you can achieve and accomplish, unless you try it. You will never know if your idea will “work” or if the business will produce, unless you stick with it. Adapt your ideas, change your strategies if you must, but never give up.

Craving more guidance? Check out these 5 Things The Richest Man in Asia Wants Young Entrepreneurs to Know.

Featured photo credit: epSos.de via flickr.com

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Last Updated on August 7, 2018

14 Powerful Leadership Traits That All Great Leaders Have

14 Powerful Leadership Traits That All Great Leaders Have

Being a leader of a company or organization is certainly a difficult and often frustrating position – but it can also be tremendously rewarding.

Whether you’re just starting out as a leader, or have been leading for a while, you’ll be sure to benefit from knowing the essential traits that all great leaders possess.

Effective and successful leaders transcend the title of ‘manager’ or ‘boss’. They’ve found a way to achieve the perfect combination of charisma, enthusiasm and self-assurance (with a healthy dose of luck and timing probably added to the mix).

It may seem like some people are gifted with leadership skills, but the truth is most leadership traits can be learned, adopted, and strengthened with time and practice.

As we delve into the list of effective leadership traits, you will learn the behaviors and attitudes of a good leader.

The 14 most important leadership traits

Please read through the list of leadership qualities carefully. Take note of which of the traits you excel at – and which ones you need to work at.

Traits for better self-development

1. Vision and mission

Having a clear picture of what needs to be achieved is a crucial quality of good leadership.

This vision is often communicated in a mission statement, such as this one from Starbucks:

    How to develop vision? Spend time pinpointing what you need to achieve, and then plan the steps to get there. Here’s a complete guide on creating your own vision.

    2. Self-motivated

    It’s no coincidence that successful leaders have an abundance of self-motivation.

    Without a decent level of self-motivation, you’ll struggle to become a strong and respected leader. However, if you don’t have a lot of self-motivation right now, don’t despair.

    One of the secrets is to have definite goals to keep you motivated at all times. Some people also choose to reward themselves every time they achieve a goal, and this is certainly a good way to keep yourself enthused and motivated. Learn how to set an ambitious yet achievable goal here.

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    3. Optimism and positivity

    Positive energy is contagious. Great leaders are overflowing with this type of energy.

    Not only does a positive mindset make leaders easy to work with, but it also gives them a constant source of inspiration and ideas.

    Tap into this energy by aligning yourself with positive people and positive goals. Find out more about the habits of positive people here.

    4. Emotional stability

    In leadership positions, frustration and stress are daily occurrences. This is why leaders need to have strong and stable emotions. They can’t allow themselves to be easily knocked off track.

    If you’re prone to losing your emotional stability when stressed or frustrated, try some of these techniques: breath deeply and slowly for 30 seconds, go for a walk, drink some water (instead of tea or coffee), turn your focus onto something you can resolve. Here’re some effective ways to control your emotions.

    5. Self-confidence

    Watch a presentation by any CEO and you’ll see that even if they’re not natural presenters – they make up for this by having powerful self-confidence.

    It’s not just CEOs who have self-confidence, any successful leader will have this trait in abundance. One reason for this, is that only a confident person can persuade others and gain their respect.

    Worried that you have low self-confidence? Try faking it. Psychologists often recommend that if you ‘act’ at being confident, you’ll start to look, sound and feel like you ARE confident. And in time… you will be.

    If you look for more ways to boost your self-confidence, this confidence coach has got you some nice advice:

    How to Be Confident: 62 Proven Ways to Build Self-Confidence

    6. Decisiveness

    Leaders are frequently called upon to make decisions (some leaders may have to make dozens of decisions every day). In fact, you could say that making decisions is one of the key things a leader must do.

    Spend some time observing highly-successful leaders and you’ll see that they are quick to make decisions. They also enjoy making decisions, rather than stressing out like many non-leaders do when they’re asked to decide on something.

    Put yourself in the leadership bracket by developing your decision-making skills. Start with small decisions – and then work your way up to bigger and more difficult decisions. Once other people notice your decision-making prowess, they’ll automatically see you as leadership material.

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    I know it’s really quite difficult to make the right decisions sometimes, but don’t worry, here’s a guide for you:

    How To Make Good Decisions All The Time

    7. Passion and enthusiasm

    Expressive. Active. Energetic. These are words best describe a passionate leader.

    Great leaders are lively, driven and are possessed with zeal and purpose. It’s this passion that helps them achieve big results. If you want to emulate their success, then you need to develop passion and enthusiasm for the work at hand, and the end goals.

    Take a look at this Passion Pyramid to find out how importance a leader’s passion is to the team:

      One way to do this is to find what motivates you, and keep your focus firmly on that. For example, i f you’re motivated by helping others, then make sure your role and company are both suited to realizing this. If you’re motivated by money, then put your focus on achieving bonuses and pay rises.

      Take a look at Leo Babauta’s guide on how to find your passion.

      8. Accountability and responsibility

      Exceptional leaders know that at all times they’ll need to take responsibility for tasks and their results. This includes things likes individual and team performance, as well as being accountable for when things go wrong.

      When negative things occur (and you can guarantee they will from time-to-time), a great leader will immediately step in and take responsibility. Initially, they’ll try to resolve the problem in as quick and smooth a way as possible. But if this is not feasible, they’ll be sure to say that the buck stops with them – and they take full responsibility for what has happened.

      To develop your leadership skills, you must never shy away from responsibility or accountability. If you prefer to sweep mistakes under the carpet, then you’re demonstrating non-leadership traits. Try owning up to issues and finding solutions to them. By doing this, you’ll immediately gain people’s respect.

      Find out some tips on how to be a more responsible person here.

      9. Focus

      Distractions are everywhere. And it takes major focus to stay committed to tasks and goals. The best leaders understand this, and therefore, they’re always looking at ways to boost their team’s focus.

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      One way leaders do this, is to keep their team intensely focused on the bigger picture. This might entail allocating specific time for tasks and eliminating any non-essential work.

      If you’re easily knocked off track, you’ll need to spend some time boosting your focus. Try planning your day, week, month and year to help ensure that you don’t fall behind with achieving your goals. Check out the 7 strategies of staying super focus recommended by a productivity coach.

      10. Ever-learning

      Leaders know that to be successful they need to continually update their skills and knowledge. They deliberately learn all they can about their profession and industry, so they’ll able to make confident and assured decisions.

      Why is ever learning so important? I’ll leave it to you to find out the reason here:

      If I Am Living a Good Life, Why Should I Bother Learning New Stuff?

      Imagine a CEO of a solar power company. His company may have amazing solar panels, but when it comes to discussing business with potential buyers, if the CEO or his sales team show a lack of understanding about the solar industry and future trends, etc., they’ll be unlikely to win any business.

      It’s exactly the same for you. If you’re a team leader at an electronics store, you should make sure you fully understand all the products that you offer. But go beyond just that, and read about upcoming products and trends that might change what customers are interesting in buying in the future.

      Traits for effective communication

      11. Empathy

      The best leaders understand the feeling of their team members, customers and associates. They know when to praise, and when to discuss problems (usually in private).

      Without empathy, leaders will be seen as cold, harsh and lacking understanding. They’re also likely to be regarded as untrustworthy.

      One way to ‘put yourself in someone else’s shoes’ is to have regular informal discussions with your colleagues. When you do this, you’ll quickly learn their fears and desires. And when you understand why they have these – you’ll be in a position to express empathy. You can also learn to be more sensitive to others’ needs by taking up these communication skills.

      12. Persuasive and influential

      Communications are at the heart of all transactions. Whether it’s pitching for a sale or resolving a customer complaint, how you communicate will determine the outcome.

      Charismatic leaders such as Richard Branson (Virgin) and Mark Zuckerberg (Facebook) are confident and persuasive communicators. They know how to win over audiences and leave a lasting impressing in people’s minds.

      There’re some common barriers that you’ll have to overcome in order to communicate effectively:

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      How to learn effective communication? You could join the world-renowned U.S. nonprofit Toastmasters International. They’ve been training people in the art of public speaking since 1924, and members have included Napoleon Hill, author of Think and Grow Rich, and Star Trek actor Leonard Nimoy.

      If you don’t have time to join a club, then practice your communications skills at home. You can do this in front of a mirror, or even better, video yourself presenting, and then ask some friends and family members for feedback. You’ll be amazed at what they pick up on.

      Traits for ensuring an engaging team

      13. Team building

      If you put a bunch of random people together, you may have a loose definition of a team. In reality, a real team has purpose, drive – and a leader lighting the way.

      If you’ve worked in different teams and with different managers, you’ll no doubt have come to this conclusion:

      Managers who treat their team members like children are unpopular with the team. Conversely, managers who treat their team members like adults, are respected and well-liked by the team.

      The days of disciplinarian managers are passed. Nowadays, successful team leaders know how to inspire and motivate their team, while keeping a harmonious atmosphere between all team members.

      14. Fostering creativity

      Solutions to problems are rarely black and white. Often it takes a leader who can ‘think outside the box’ to come up with answers. In other words, a leader must be creative, and also help to foster creativity and innovation throughout their team.

      Creativity is not only associated with pursuits such as arts, literature and music, running a team can be just as creative. There will be times every day when you need to come up with ideas and give guidelines for your team to come up with theirs to solve problems.

      Leadership is a journey of continuous learning

      Leadership is an amazing experience that will take you on roads you’ve never traveled before.

      Begin now to build your skills and experience, pick out the traits that you currently lack – and then work on developing those.

      It will take tons of practice and time before becoming an effective leader but eventually you will join the ranks of great leaders.

      Featured photo credit: unsplash via unsplash.com

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